In its 'London Residential Trends' report, estate agent Chesterton said 'Letting activity increased significantly during the lastquarter of 2000 and was well above the seasonal norm.' As a result, rentalsvalues rose for the fourth successive quarter reflecting a shortage of lettingstock.
During 2000, rents grew by 7.9% and with the demand/supply balance in the owner's favour, rents look set to continue growing above inflation as the year progresses.
'However, private investors are yet to return to the letting market insignificant numbers,' says Rowena Wild, executive director of lettings atChesterton, who is concerned that any prolonged economic slowdown in the UScould have a dramatic knock-on effect in the London lettings market as UScorporates and their employees account for a high volume of business,particularly for large family houses in central London.
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